National General (NGHC) Tops Q2 EPS by 1c

National General (NASDAQ: NGHC) reported Q2 EPS of $0.54, $0.01 better than the analyst estimate of $0.53. Revenue for the quarter came in at $1.09 billion versus the consensus estimate of $1.09 billion.

• Second quarter 2018 net income of $36.7 million or $0.34 per diluted share, compared to net income of $5.5 million or $0.05 per diluted share in the second quarter of 2017.
• Second quarter 2018 operating earnings(1) was $59.5 million or $0.54 per diluted share, compared to $23.7 million or $0.22 per diluted share in the second quarter of 2017.
• Second quarter 2018 net income was impacted by an $18.7 million net realized loss on investments related to a repositioning of the portfolio.

Barry Karfunkel, National General’s CEO, stated: “We are pleased to report another quarter with both strong top line growth and underwriting results, despite continued active catastrophe loss activity for the industry. Our second quarter results reflect the strength and stability of returns the platform we have built is able to generate. We expect the opportunity for profitable growth across the diversified niche lines of business we have developed to continue as market dynamics in both our P&C and A&H segments remain favorable.”

For earnings history and earnings-related data on National General (NGHC) click here.

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